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By Robert F. Calman

OUTLINE FIVE EXAMPLES OF GOLD-LINKED FINANCINGS 1. Financing the Lupin Mine • Sale of Cdn $40.0 million of 12% preferred shares and Cdn $40.0 million of Gold Purchase Warrants @ $595 per ounce. 2. Financing the Copper Range acquisition • Borrowing 100,000 ounces from a Canadian chartered bank @ US$307 for five years. 3. Financing the Round Mountain expansion • Borrowing up to US $80.0 million in dollars, convertible into gold, repayable over five years from a group of North American banks. 4. Financing the Tenneco Precious Metals Division acquisition •Sale of SFr 110.0 million of ten year 3-718% bonds with warrants to buy 132,000 ounces of gold at US $560. 5. On Forward Sales, Puts and Calls • Gold, Silver, Canadian Dollars, Swiss Francs THE FINANCIAL RULES AT ECHO BAY 1. Never bet the company 2. Equity is the primary form of capital for a gold mining company 3. On debt 4. The Yardsticks for Corporate Decisions 5. Financial Community Relationships 6. Dividend Policy No Text Available Tables Follow

Jan 1, 1990

By Warren H. Westphal

For mining and exploration, and indeed the entire mineral industry, the first century of AIME has ended with far more problems than it began. Paradoxically, most of these problems have arisen not because, the industry has been unsuccessful, but rather because it has succeeded too well. Whatever the public demand for minerals over the past 100 years, it has somehow been met-and met at a price well within the public's ability to pay for the products. But as AIME moves into its second century, the past successes of mining and exploration are beginning to levy a tax on the future. Prospectors have already found most of the rich and ready ores, and miners have dug them out. New mineral assets grow progressively harder to come by, and as they do, the need for them grows inversely more pressing. How and where and at what cost can adequate supplies be found? How and at what cost can they be mined from heretofore inaccessible recesses deep underground and under the seas-or from vast surface tonnages containing only minor values? And once they are found or won, how can these assets be husbanded for generations to come? How also can they be extracted without injury to the land, air and water on which we and our successors must depend? And what constructive use can be made of the incidental materials now treated merely as wastes-sometimes at great expense?

Jan 1, 1971

By AIME AIME

THE following paragraphs, constituting the concluding portion of the Annual Report of the Council for 1903, have been withheld from publication until now, in order to make them as accurate and complete as possible. They will be published in Volume XXXV. of the Transactions in their proper place at the end of the said Annual Report. Franklin Ballou was born in Pittsburg, Pa., May 29, 1845. He was the son of an old resident, Arthur Ballou, a manufacturer and wholesale dealer in vinegar. In early youth Franklin attended the Western University of Pittsburg, but left school at the age of 16 to become book-keeper for his father, upon whose retirement from business, in 1868, he associated himself with Walter C. Childs, of Pittsburg, in the manufac¬ture of furnace-grates and asbestos-cement for blast-furnaces. This firm was known as W. C. Childs & Co., and did a success¬ful business for several years. In 1869 Mr. Ballou married Miss May S. Wilson, daughter of Judge Wilson, of Lewistown, Pa. In 1876 he spent several months traveling in the West and studying the mining industry, which greatly interested him. In consequence of this journey, he wound up his business in Pittsburg and removed in 1877 to Georgetown, Colo., where for several years he conducted a sampling-works, and built up an extensive business as an agent for the sale of ores, besides engaging to some extent in mining enterprises. , It is said that he controlled at one time about one-eighth of the output of the Leadville mines. In the early 80's, he became Vice-President and General Manager of the Bimetallic Smelter at Leadville, of which Mr. David H. Moflat was the principal owner. This was practically the first successful demonstration of pyritic smelting in Colorado. Upon the sale of the works in 1897 to the American Smelting and Refining Co., Mr. Ballou retired

Jan 1, 1905

By D. Harrington

The coal-mining industry of the United States finds difficulty not only in making ends meet financially but also in operating with anything like reasonable safety. The record to date has not been particularly good as to either finance or safety, but at least in some phases or safety there are indications of better times to come. During the fiscal year ending June 30, 1929, only 139 lives were lost in explosions in our mines as against 342 lost during the fiscal year ended June 30, 1928; this decrease in such fatalities is definitely a matter for satisfaction. During the fiscal year July 1, 1928, to June 30, 1929, the attention of the safety division of the U. S. Bureau of Mines was directed to 38 mine explosions in the United States. Two explosions were in non-coal mines, one in a semianthracite mine, two in anthracite mines, and 33 in bituminous mines. These were not all major explosions - that is, explosions in which five or more lives were lost; in some of the explosions no lives were lost, while in others fewer than five fatalities resulted. Table 1 gives data on the explosions, showing the number of mines using open or closed lights and the number of explosions with resulting deaths, by causes, for each State.

Jan 1, 1929

By G. A. Kordosky

LIX® 34 liquid ion exchange reagent, one of a totally new class of metal extractants, is discussed in terms of its properties. Specifically, these properties include improved selectivity for copper and greater recovery. Some comparisons to the well known General Mills' LIX® 64N have been made. Particular emphasis is given to treating solutions containing very low copper values and high impurity levels.

Jan 1, 1976

By R. C. Troxell

Alternative methods of analyzing data acquired by the Morenci copper concentrator process control instrument-computer system are presented. Experimental measures of ore characteristics, for proposed feed forward control, are introduced. These include on-line indexes of ore hardness, ore density, ore dusting, and ore color. Comparison of metallurgical results before and after computerized process control implementation, allowing for differing ore grades, oxidation, hardness, and fineness of grind, also is described.

Jan 1, 1979

By W. L. Dare

This information circular is one of a series the Bureau of Mines plans to publish describing the methods and costs of mining uranium on the Colorado Plateau. The Temple Mountain mining district is unique among the uranium-producing areas on the plateau. This relatively isolated mining district is in Emery County, Utah, on the eastern flank of the San Rafael Swell, about 35 miles southwest of the town of Green River. The district lies just within the eastern escarpment of the San Rafel Reef - a rampart of rugged and tilted sandstone cliffs that encircles the highly eroded core known as the Sinbad Country. The presence of petroleum matter found associated with the ore deposits, the occurrence of uranium in various formations, and the structural deformation caused by collapsed features have aroused a great deal of geologic interest. Mine development on Calyx Flat is distinctive, in that the ore deposits are worked through 36-inch calyx-drill holes.

Jan 1, 1957

By Bob Rautenberg, Luminita Calin

The Tunnel and Reservoir Plan (TARP), commonly known as the Deep Tunnel Project, was developed by the Metropolitan Water Reclamation District of Greater Chicago as a two-phase solution to the problem of waterway pollution and basement flooding due to sewer system backups created by the combined sewer overflows. With only one contract left before completion of the Phase I tunnels—the 12.4 km(7.7 mi.) long Little Calumet leg—the pollution control phase of the 175.7 km(109.2 mi.) long system will be 93% complete, once the Torrence Avenue tunnel project comes to an end. This paper describes the Torrence Avenue tunnel project, currently under construction by the joint venture of Kenny (Sponsor) / Kiewit / Shea. Mining of the10.4 km (34,151 feet) long and 8.3 m (27'-4") diameter mainline tunnel was completed in a record thirty-one-weeks period and the concrete lining is nearing completion. Details on the complete muck handling system, numerous mining and concrete lining records will be given.

Jan 1, 2001

By Enzo Palumbo, Joël P. T. Kapusta, François Larouche

In light of the rapid deployment of bottom blowing smelting in China over the last ten years, one has to wonder why it has taken the copper industry so long to adopt ultra-high oxygen enrichment via Savard-Lee type injectors. As early as 1976, Kellogg and Henderson suggested, in their landmark paper on energy usage in the copper industry, that ‘maximum use of oxygen enrichment of process air’ was one of seven ‘energy saving features’ for copper matte smelting and converting. Yet today, shrouded injection and high oxygen enrichment has not been implemented in copper bath smelting outside China and Vietnam. In this paper, the authors explore the reasons why bath smelting processes such as the Noranda Reactor and the Teniente Converter still operate around 40% oxygen enrichment, while the bottom blowing SKS/BBS process typically runs at 65 to 75% oxygen, with all three processes producing white metal. Are there fundamental metallurgical explanations for this striking difference beyond the long-standing skepticism towards high oxygen shrouded injection and its perceived high implementation cost?

Jan 1, 2015

By J. E. Gill

Introduction During the past summer, detailed geological mapping was extended to cover the entire group of 31 claims owned by Waite-Ackerman-Montgomery Mines, Ltd., and considerable new information was revealed by development and exploratory work underground. These new facts provide a more complete view of the lithology and structure of the area than has heretofore been available. They also necessitate revision of certain interpretations presented last year by Peale (l), and have served to straighten out some of the problems suggested by Porritt (2). The purpose of this paper is to outline in a broad way the relations as now understood and to discuss in detail certain points which should be of interest to members of the Institute. Maps and records by the mine staff have been freely used in arriving at the interpretation presented in the following pages. The writers are especially indebted to Mr. R. V. Porritt, the mine manager, with whom many of the problems touched upon were discussed on the ground and whose intimate knowledge of the geology of the underground workings aided greatly in testing various hypotheses. The writers have profited greatly, also, from close association with Dr. W. F. James during the course of the work. Permission to publish the included data has very kindly been given .by the management.

Jan 1, 1932

By H. Conrad, K. Jung

"The effect of an external electric field E=5(+) kV/cm applied during the solution heat treatment at 500°-550°C of three commercial Al-Mg-Si alloys (AA6061, AA6022 and AA61l1) on the asquenched resistivity Pw and hardness H.,NULL, w was investigated. It was found that the field gave a significant increase in Pw and in Hv,w, for AA6022 and AA6111, but had no clear effect on AA6061. Thermodynamic analysis gave that the effect of the field on AA6022 and AA6111 was to reduce both the enthalpy ?H, and entropy ?H, of solution. Considering the chemical composition of the three alloys it appears that the influence of the field may depend on the amount of Cu plus excess Si present in the alloy.IntroductionKlypin and Soloviev [1, 2] were the first to report that the application of an external electric field during solution heat treatment (SHT) of Al alloys gave an increase in the as-quenched resistivity and hardness. They attributed these effects of the field to an increase in solubility of the alloying constituents during the SHT. More recently Liu and coworkers [3, 4] also reported an increase in the as-quenched resistivity of Al-Li alloys with application of an electric field during SHT. Further, the present authors [5] found that the application of an electric field during the SHT of the commercial Al-Mg-Si alloys AA6022 and AA61i1 increased their as-quenched resistivity and hardness. Their thermodynamic analysis of the results indicated that the field decreased both the enthalpy ?H, and entropy ?S, of solution."

Jan 1, 2004

By R. L. Marek

The number of Persons fatally injured in the petroleum industry in California in 1930 was 50, a decrease of 20.6 per cent from 1929, when 63 men accidentally lost their lives. The decrease in the number of fatalities for 1930 has caused the first downward trend in the fatality curve of the California petroleum industry since 1927 and is coincident with a period of little active development in new fields, the shutting in of many wells, and reduced activity in the older fields of the State. That a direct relationship exists between the number of accidental deaths and the rapidity of new field development is particularly emphasized by the fact that in 1929, a year of intensive field development in California, 48 men were killed in the drilling and producing division, whereas in 1930, a year of less development work, only 25 men were killed in this division. The figures for the average number of drilling and producing wells in 1930 decreased appreciably from comparable figures for 1929 and a greater percentage of producing wells were shut-in in 1930 than in 1929.

Jan 1, 1931

By R. L. Marek

The number of persons fatally injured in the petroleum industry in California in 1930 was 50, a decrease of 20.6 per cent from 1929, when 63 men accidentally lost their lives. The decrease in the number of fatalities for 1930 has caused the first downward trend in the fatality curve of the California petroleum industry since 1927 and is coincident with a period of little active development in new fields, the shutting in of many wells, and reduced activity in the older fields of the State. That a direct relationship exists between the number of accidental deaths and the rapidity of new field development is particularly emphasized by the fact that in 1929, a year of intensive field development in California, 48 men were killed in the drilling and producing division, whereas in 1930, a year of less development work, only 25 men were killed in this division. The figures for the average number of drilling and producing wells in 1930 decreased appreciably from, comparable figures for 1929 and a greater percentage of producing wells were shut-in in 1930 than in 1929.

Jan 1, 1931

By Oliver C. Ralston, Dorsey A. Lyon

Volatilization in retorts has been, until recently, the only commercial process of producing spelter, hence the zinc mine operators have had to meet the terms of the zinc smelters in regard to the following requirements: (1) Minimum percentage of zinc the ore must contain; (2) the chemical combination of the zinc in the ore; (3) the proportion present of those elements that interfere with the suceessful recovery of the zinc when the ore is retorted. In consequence of these requirements, only a comparatively small proportion of the zinc ores mined can be shipped directly to the smelters.

Jan 1, 1919

By R. R. Wells

An important activity of the Bureau of Mines is the continual search for new sources of minerals. As a part of the investigation of strategic mineral deposits in the United States, samples of mercury ores were submitted to the Ore Dressing sections of the Salt Lake City and Albany stations for metallurgical testing. This paper gives data summarizing the results obtained from laboratory beneficiation studies of mercury ore samples submitted during the period 1941 to 1947. Ores tested included three from Jackson County, Oreg., one from Valley County, Idaho, one from Storey County, Nev., and one from Sonoma County, Calif. In general, the ores from Oregon were not amenable to concentration by flotation because of intimate association of cinnabar with other minerals or because of extremely low grade. One Oregon ore was amenable to direct distillation provided lime was added to reduce corrosion of the retort.

Jan 1, 1950

By M. C. Irani

This Bureau of Mines report tabulates methane emissions from U.S. bituminous coal mines with daily emission rates of at least 100,000 cfd according to States, counties, and coalbeds. Most of the methane emitted is from mines in the Appalachian States. Total daily emission in 1975 was 216.3 MMcfd, compared with 227.0 MMcfd in 1971 and 214.5 MMcfd in 1973. Thirty counties in nine States hid daily methane emissions of 1 MMcfd or more. These emitted 93 percent of the total methane. The highest emissions were from Monongalia County, W. Va., which accounted for 18.9 percent of the total. This was followed by Marion County, W. Va., 9.6 percent; Buchanan County, Va., 8.3 percent; Jefferson County, Ala., 6.1 percent; and Washington County, Pa., 5.9 percent. The Pittsburgh coalbed emitted 45.7 percent of the total methane, followed by the Pocahontas No. 3 coalbed with 12.9 percent. The report lists 196 mines, of which 60 had daily methane emissions of 1 MMcfd or more. Included in this compilation are the identification and thickness of the coalbed, methane emission, coal production and ventilation rates, number of drifts, shafts, and slopes used for ventilation purposes, shaft depth, age of mine, and gas-to-coal ratio.

Jan 1, 1977

By Robert D. Perry

This report describes methods of reclaiming abandoned or inactive tailings ponds and dams. The investigated sites were selected tailings deposits adjacent to metal mines in the southwestern United States and the Pacific Northwest. The basic data developed for each site consisted of the following: a review of existing literature; a site visit that included sampling of the tailings and surrounding materials; laboratory and engineering studies; and development of reclamation plans. Laboratory tests determined the gold and silver content of each tailings deposit and the chemistry of the tailings and surrounding materials. Reclamation plans that include approximate costs were developed for five tailings deposit sites. These ranged in size from 52,000 to 103,000,000 tons. Our conclusions on the remining potential of each site are based on the tailings assay and other technical data. This study concludes that remining as a reclamation tool is feasible at certain sites. Included in this report is a remining program as part of the overall reclamation plan for two sites. Our preliminary results indicate that remining as a reclamation tool is feasible for only one of them.

Jan 1, 1981

By O. C. Blade

This report is one of a series made by the Bureau of Mines under a cooperative agreement with the American Petroleum Institute on the characteristics of commercial aviation gasolines. The series of Surveys is a continuation of like work conducted under aimil.ar cooperative agreements with the Coordinating Research Council, Inc. by the National. Bureau of Standards from 1940 through 1946 and by the Bureau of Mines from 1947 through 1949. A completed list of the series of surveys is given at the end of this paper.

Jan 1, 1951

By William P. Jones

THE consumption of sulphuric acid, one of the most important commodities in our modern industrial world, is often used as a barometer for industrial activity. The economics of acid manufacture are largely dependent upon the location of the place of consumption and the availability of raw materials in that locality. Sulphuric acid is made from SO2 oxygen from the air and water. Therefore the sulphur dioxide is the only raw material to be considered in an economic study. SO2 can be obtained from almost any material containing inorganic sulphur, such as elemental sulphur, pyrites, coal, sour gas and oil, metallurgical gases, waste gases, or gypsum and anhydrite. Many tons of acid can also be reclaimed by the recovery and concentration of spent acids. The aim of this paper is to present a guide to the economic aspects to be considered when the installation of an acid plant is contemplated. It must be remembered that 1 ton of elemental sulphur produces 3 tons of sulphuric acid and that the shipping of sulphuric acid by tank car is very costly. The size of the plant must also be given careful consideration. For instance, operation of a plant producing 5 tons of acid per day might be warranted in Brazil or Pakistan, whereas economics usually favor buying quantities up to 50 tons per day for use within the United States. Elemental sulphur, when available at the low price of 1 ½ ¢ per lb delivered at an acid plant, has always been the raw material most frequently used for sulphuric acid. All conditions favor its use at this price. The so-called sulphur shortage has been the subject of so many technical papers, magazine articles, and newspaper items during the past year that it hardly seems necessary to mention it again, but a very brief review of the matter will serve as a foundation for the discussion that follows. There is no shortage of sulphur. Only a shortage of low-cost Frasch-mined brimstone exists today. Other more expensive sulphur-bearing materials are plentiful, both in the United States and abroad. The low cost of Frasch-mined brimstone has discouraged the development of higher cost sources. However, the approaching depletion of Gulf Coast dome deposits and the greatly increased demand for sulphur here and abroad have made it necessary for industry to prepare for conversion to utilize sulphur in other forms. For future planning this situation must be considered permanent and not temporary. This conclusion is based on the fact that although sulphur demand will continue to rise, the production of Frasch-mined sulphur probably will not increase greatly beyond its present level of about 5,000,000 long tons per year. The International Materials Conference in Washington estimates 1952 requirements of the free world at nearly 7 ½ million long tons; and the Defense Production Administration has recently set a new goal for 8,400,000 long tons annual domestic production by 1955. The total sulphur equivalent produced in this country in 1950 was 6 million tons. What, then, are the alternatives for the manufacture of the vital chemical, sulphuric acid? Today about 85 pct of this country's sulphur, and nearly 50 pct of the world supply, comes from our Gulf Coast salt domes and is extracted from the earth by Frasch's hot water process. The Gulf Coast salt dome deposits have been the most important known natural deposits in the world, producing 90 million tons of sulphur during the past 50 years. However, at the present rate of extraction these deposits cannot be expected to last indefinitely. Pyrites Pyrites are, and have been for many years, the source of more than 50 pct of the world's sulphur requirements. The principal use, of course, is in the manufacture of sulphuric acid. The use of pyrites in the United States has diminished greatly because of the availability of low cost native sulphur, but pyrites have continued a major source of sulphur in many other countries. The most available pyrites for use in this country are in the form of lump pyritic ore and in mill tailings from flotation of other minerals such as lead, zinc, copper, gold, and silver. An important factor, when the use of pyrites for acid manufacture is being considered, is the disposal of calcine. A ton of sulphuric acid requires approximately ¾ ton of high-grade pyrite and results in ½ ton of calcine. If the calcine is a fairly pure oxide, free of harmful impurities, it can be used, after sintering, in an iron blast furnace burden. Its value might be as high as 15¢ per unit of Fe at the blast furnace; or possibly $10.00 per ton of sinter, if it assays 65 pct Fe. This might result in a credit of $4.00 per ton of acid if the sintering plant and blast furnace are both located adjacent to the acid plant. On the other hand, several factors must be considered before this credit can be realized, i.e., freight to blast furnace, availability of sintering facilities, methods of eliminating impurities, and the removal of valuable metal values. In some locations it would be most economical to dump the calcines.

Jan 1, 1952

By Charles R. Keyes

the leaching of near-by rocks, had had no other result than to bring out from obscurity three certain features of practical lmport, all the labor of that controversy would have been well expended. These three points are : (1) a clear distinction between the vadose and the profound zones; (2) a determination of the manner in which the latter may be invaded by conditions of the former; and (3) an establishment of the general truth of the lateral-secretion theory when vadose conditions prevail, and of the. ascension-theory under profound conditions. In the practical consideration. of ore-deposits these generalizations are fundamental. Their wider application must be productive of great industrial advantages. Of first importance in the broader scientific survey of ore-genesis is the recognition of a sharp distinction between vadose and profound conditions. To many who listened to Professor Posepny's remarkable paper, read at the Chicago session of the Institute during the Columbian Exposition in 1893, this seemed, as Dr. S. F. Emmons has already observed, its most valuable and suggestive feature. Notwithstanding Posepny's implications to the contrary, and his vigorous berating of Sandberger's views, the immediate and lasting .effect of the . argument was really to strengthen greatly Sandberger's position. For it completely and sharply separated the lateral-secretionists from the ascensionists, raising the sphere of the former bodily above the line of permanent water-level and at the same time confining .the sphere of the latter to regions below that horizon. A little later, Professor Van Rise showed in some detail how meteoric waters may deeply invade the profound zone and carry vadose conditions into it. The zonal limitations of two great and apparently opposed agencies being thus definitely fixed, it is found that neither of the theories based thereon is susceptible of general application. If the generalizations of the lateral-secretionist be propounded solely for vadose conditions, we are able to agree with all of his more-important contentions; while there is general acquiescence in the views of the ascensionist if their application be restricted to the profound zone. Of the ore-bodies of the world that are mined to-day, the majority are essentially vadose in origin, and probably originated

Jul 1, 1910